Date of Swiss Gold Initiative Vote Inches Closer

64
Fri, Oct 10, 2014 - 12:52pm

Will November 30, 2014 be a seminal day in the fight to return the world to a system of sound money? Maybe. But only if the good people of Switzerland ignore their devious central bankers and sycophant media.

Regular readers of this site know that we've been all over this story for months. As the date of the Swiss national referendum approaches, you can be assured that many more updates will follow. For today, just a recap.

To begin with, please read this: https://www.tfmetalsreport.com/blog/5731/turdville-love-open-letter-good...

Then follow that up with this: https://www.tfmetalsreport.com/blog/6065/swiss-gold-initiative

Why am I bringing this up again today? Because earlier this week, the Swiss National Bank (SNB) put out an opinion piece that was clearly designed to frighten the Swiss people into voting "NO" on The Initiative. You can read the entire missive by clicking this link but the "conclusion" is reprinted below: https://www.snb.ch/en/mmr/speeches/id/ref_20141009_jpd/source/ref_201410...

"History is a great teacher. And central banks must learn from its critical episodes. The recent crisis is such an episode and is thus an exceptional learning opportunity.

Central banks were active in managing the crisis with both conventional and unconventional tools. Their efforts played a major role in preventing the collapse of the financial system in the early days of the crisis, and have contributed to mitigating the economic damage of the aftermath. These actions were only possible because central banks, including the SNB, were able to act flexibly in exceptional circumstances – a flexibility which the gold initiative would severely constrain.

But the social costs of the crisis were – and still are – enormous, and the main lesson that central banks need to take away from it is the necessity of reinterpreting their financial stability mandate, away from managing crises and towards a more prominent role in preventing them.

This means that systemic risk has to be addressed directly and effectively, a job for which central banks are well placed. If we succeed, the need for extensive crisis management measures will be reduced. In other words, one should expect to see more of central banks on one front so as to see less of them on another.

Let me conclude by reiterating the answer I gave right at the very beginning: in responding to the crisis and in implementing new regulatory measures to prevent another one, central banks did not do too much; they did what was and is necessary."

To sum up, the SNB essentially said this:

The current global financial system nearly collapsed in 2008 and it could do so again at any moment. The only way the Swiss will/can survive this coming debacle is to continue to invest all monetary authority into the same deviant central bankers that brought upon the crisis in the first place.

That sounds like a good idea, doesn't it?

While it's certainly true that a "YES" vote would be positive for gold (and silver), this referendum is about much, much more than that. It is about returning power to the people while diminishing the destructive power of the central bankers. As the world's only remaining direct democracy, the Swiss are uniquely positioned to champion this cause and begin the process of global liberation from central banking. Will they vote "YES" on November 30 or will they be cowed by fear through the propaganda spewed by their bankers and repeated by their media? Only time will tell.

I'll conclude this post today with the same words that I've used to conclude the other two posts, imploring the Swiss people to choose wisely:

The world is rapidly changing and tomorrow will not be like yesterday. The current global financial system, based upon promises, debt and unlimited fiat currency will one day soon by replaced by a system that returns the world to a sound money platform. The monetary powers of the 21st Century will come to the forefront by virtue of their accumulated reserves of sound money, not by their addiction to easy money.

You, Switzerland, still have time to act and prepare but you must move quickly. The possibility exists for you to reverse course and demand change but time is short. The end of the great Keynesian experiment is upon us. Reclaim your gold and your sovereignty now or be forever consigned to the trash heap of fiat currency history.

Faithfully submitted with all sincerity,

TF

About the Author

Founder
tfmetalsreport [at] gmail [dot] com ()

  64 Comments

  Refresh
goldcom
Oct 10, 2014 - 2:05pm

The Vote

We can hope for a positive outcome but there is to much on the line here for tptb to allow this to pass. Just like Irish referendum and the Woody re election imo even though the opposition recruited their own ridiculous version of the big government solves all problems candidate.

Pseudozero
Oct 10, 2014 - 1:26pm

FWIW

i intend to buy some gold that day/week.

that's a way for all of us to 'participate', we all know the only vote's that count are usually tabulated in currency, one day perhaps they'll be counted by weight again.

Orange
Oct 10, 2014 - 1:20pm

To the Swiss

You have a long and true history of Democracy. Please ensure the bankster don't hire fraudlent vote counters as we saw in Scotland.

https://www.infowars.com/over-150000-demand-recount-after-allegations-of...

Mr. Fix
Oct 10, 2014 - 1:11pm

Gold and silver will not be “freed” due to any Western interests

It is inevitable that the current paradigm will come to a crashing end, but it is far more likely that Russia and China along with the coalition they are building to dump the dollar will be far more instrumental in freeing gold and silver than anything that happens in Switzerland.

Just in case anyone missed it:

If elections mattered at all, they would be illegal.

chrtoo
Oct 10, 2014 - 12:58pm

First.

Now to read.

Edit: I have marked Nov 30th, 2014 on my calendar in order to cross my fingers for the right outcome. Hopefully DieBold will not be counting the ballots.

CHR.

Oct 10, 2014 - 12:55pm

If you're a twitter user...

Please re-tweet or link with the hashtag:

#swissgoldinitiative

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Recent Comments

by pc, 4 min 34 sec ago
by Turd Ferguson, 11 min 15 sec ago
by Turd Ferguson, 15 min 50 sec ago
by Angry Chef, 28 min 26 sec ago
by eastofwest, 41 min 3 sec ago

Forum Discussion

by Green Lantern, 8 hours 6 min ago
by KevinBenavides, Sep 27, 2020 - 6:01pm
by SteveW, Sep 27, 2020 - 3:47pm
by 11IMIX, Sep 27, 2020 - 10:45am